You see many of the political ads stating inflation is due to President Joe Biden’s policies. Guess you’ve got to blame someone.
Since Covid, many corporations have increased the prices of their products (some, at the same time, shrinking their product). And yet, many amazingly report record profits.
Gas companies have reported record earnings, food producers also reported earnings beyond previous highs. Big Pharma has increased prices on drugs that have been in the pipeline for years, so by now the research and development costs have surely been met.
During this time of record profits and CEO pay increases and increased shareholder returns on investment, you have got to ask yourself: Is this truly inflation or are the corporations, CEOs, and shareholders just greedy and looking to pocket more money?
Then think about yourself. If you are now wanting to sell your house, did you really invest by upgrading your home and that is the reason for the higher-than-pre-Covid pricing? Houses were selling like hotcakes in the first part of the pandemic and were in short supply, so the prices started going up. Now prices have risen well above the Covid era. Why?
Homes in our neighborhood, when originally built approximately 50 years ago, were purchased for around $40,000. They are now listing for $450,000 or more. Is the pricing of homes due to true inflation or greed on the part of the realtor or the homeowner or both?
We need to start placing blame on inflation where it belongs: greed and love of money.
Floyd Bergener, West Valley City